Estein USA And Vanderbilt Office Properties Acquire Pinnacle Tower In Dallas For $163.3M

The asset involved in the transaction is an office property located at 5001-5005 Lyndon B Johnson Freeway in Dallas, TX. The sale was finalized at a price of $163,300,000, equating to $297 per square foot, covering a total area of 549,076 square feet on a 4.62-acre site. The property is a 24-story office building and had been owned by New York Life Investments since 2016. The asset is noted to be 88.6% leased, indicating a strong demand for stabilized office properties in the Dallas market.

Summary of transaction details:

• Property Type: Office
• Transaction Amount: $163,300,000
• Buyer: Lothar Estein - Estein USA
• Buyer: Casey Wold - Vanderbilt Office Properties
• Seller: Naïm Abou-Jaoudé - New York Life Investments
• Lender: Goldman Sachs
• Loan Type: Interest-only loan
• Loan Amount: $100,000,000
• Building Size: 549,076 square feet
• Price Per Square Foot: $297
• Market: Dallas, TX
• Acquired Date: 05/05/2026

A venture comprising Estein USA and Vanderbilt Office Properties emerged as the buyers of this asset. The financing for the acquisition was facilitated through a $100 million interest-only loan from Goldman Sachs, which is expected to be included in a CMBS conduit. The seller, Naïm Abou-Jaoudé, represented New York Life Investments, which had maintained ownership of the property since a joint venture with Encore Enterprises.